 Hello everyone. Welcome to Options with Doug. Streaming live daily on Bookmap Discord and the Bookmap YouTube channel at 1.30 p.m. Eastern Time. Before I get started I need to go through the Disclosures. General Disclosure, all Bookmap limited materials, information, and presentations are for educational purposes only and should not be considered specific investment advice nor recommendations. Risk Disclosure, trading futures, equities, and options involves substantial risk of loss and is not suitable for all investors. Past performance is not necessarily indicative of future results. The focus of my presentation and the focus of the Options-Doug chat channel in Discord is options, order flow, the impact of options markets on stocks and futures, and the influence of market maker hedging flow on price action. I have a two-step process for trading in the first is planning and I use positional analysis. I look at how traders and market makers are positioned in the options market and how those positions change from day to day to develop a thesis regarding the expected trading range and volatility for the day as well as the directional bias. And the second step in my process is execution. And I look at real-time order flow in Bookmap and real-time market maker hedging flow in SpotGammaHero to confirm my thesis and for setups for entries and exits. And when I talk about setups today I will be talking about setups in an underlying asset. Setups can be taken with futures, shares of stock, or options. Questions and comments are welcome and I will be watching both the Options-Doug chat channel and Discord as well as the chat and YouTube for your questions and comments. And hello, trading sale. Welcome. Glad you're here. Hello, Noah. Glad you're here as well. Welcome. My agenda for today, what I want to cover, news items, economic data, events, and earnings for today as well as the rest of the week. Then I'll go through my positional analysis. I want to review some setups from earlier today and then we'll talk about the live market. And when I get to the live market, if anyone has any stocks they want me to take a look at, I will do that. And hello, CarMFX and second wins. Glad you're here as well. Welcome. All right, economic data. Today there was some data that came out this morning. PMI and factory orders, 9.45, 10.00 a.m. came in in line with expectations. And next, Apple and Amazon both report earnings after the close today. So we'll take a look at both of those stocks in book map and we'll also see what options traders are doing today. So again, Apple and Amazon report earnings after the market closes and then tomorrow morning at 8.30 a.m. the employment report. Again, employment report comes out at 8.30 a.m. Eastern time. All right, let's get started with the positional analysis. I'm going to start with the ESB 500. This is the ES Futures and Book Map. And before I take a closer look at this chart, I want to take a look at a larger time frame. This is SPX in a 30-day one hour chart. And let me zoom in on this a little bit. All these labels are obscuring the price. So that helps a little bit. So I'm still looking at all the key levels as well as the, I can see price now. So this is a 30 day one hour chart in Thinkorswim showing SPX. I'm zoomed in a bit. Let me point out the levels on this chart. First of all, the lower and upper daily expected move shown by the dash blue lines and SPX is trading right in the middle, it looks like, right between the lower and upper daily expected move. Next, the lower and upper weekly expected move shown with the dash purple lines. And SPX is trading below the lower weekly expected move at this point. All right, those are all based on the options market. Now let's take a look at spot gamma levels. So first of all, here's the 4500 put wall. That's the strike with a large net negative gamma that can be expected to act as support. And note that price did trade gap down and trade down below that level this morning. Also traded down to the lower daily expected move and is now moving up. So again, this 4500 level expected to act as support. The next level up is the volatility trigger at 4520. That is spot gamma's proprietary gamma flip level. Below that level, market makers position on the gamma curve is negative. In a negative gamma environment, market makers have to trade with price to hedge their delta exposure. And that has played a big part in the rally today. I'll talk more about that in a few minutes. So at the right now and in the beginning of the day, market makers position on the gamma curve was negative. And note that level did drop down from 4570 yesterday to 4520 today. So the volatility trigger move lower. And then the next level up is the 4600 call wall. That's the strike with the largest net positive gamma that can be expected to act as resistance. And that level, excuse me, was in play last week. Excuse me, that level was in play last week. But now the key level has focused a shifted down to the put wall at 4500. So again, the call wall expected to act as resistance. And it did last week. And then finally the absolute gamma strike is at 4500. That level did drop lower yesterday from 4600. Also the call wall shifted lower from 4650 yesterday to 4600. So for SPX, the volatility trigger the call wall and absolute gamma strike all shifted lower. And that's the same for spy. Volatility trigger call wall and absolute gamma strike all shifted lower. Alright, so that is SPX showing all the key daily levels. Now let's take a look at a another SPX chart. Just take a look at SPX levels in play for today. So note that SPX traded down towards its lower daily expected move and did not trade exactly to that level. Other levels in play for today. This 4491 L1 L5 combo level acted to support this kind of looks like a head and shoulders bottom here. Here's the put wall at 4500. And spot gamma has talked about price being oversold. If it's trading above a call wall, I assume the same thing applies to a put wall being I mean being overbought above the call wall and oversold below. Alright, then the volatility trigger is the next target above at 4520. Alright, let's take a look at book map now. So in book map, I have my own cloud notes. And I have the spot gamma levels for SPX. There's the 4520 volatility trigger. And just one point above that is the 452010 gamma level. And then I also have key spy levels. So there's the spy 450 absolute gamma strike. That's also the put wall and the volatility trigger. So a key level for spy there. Let's just stretch that out a little bit. So spy 450 again, a key level. That's the absolute gamma strike, the put wall and the volatility trigger. And then here is the SPX put wall. And note there's a price difference between ES and SPX. Today I calculated that as 21 points. So that's why the SPX 4500 level is actually shown at ES 4521. So let's look at the levels that have been in play for today. First of all, the first resistance level was at the 4500 level, also the spy 449 price moved down, found support at the lower daily expected move. That's the lower daily expected move for ES, slightly different than SPX. All right. So those are the levels that play for the SP500. We'll talk about setups in a few minutes. But notice the just let me give you a hint. The reversals like clockwork, 10 a.m. reversal lower, 10 30 reversal higher. And again, we'll talk more about that in a few minutes. Let me check for questions. Right. So karma FX is read yesterday that as a result of Oppenheimer S&P is projected to rise as high as 4900 by end of year. I'll show you how you can how you configure that out. So first of all, I don't look that that far out in the future. I primarily day trade. So right now that's what I'm doing. So I'm looking at today, not end of year. But I'll show you how you can use the options market. All right. And the Uber trader says hello greetings from Brazil. And hello, glad you're here. All right. So Uber trader, I'm not sure if this transmission, the stream is available in YouTube at at 1080p. Mine, the max is out at 720. But if you want to join us in discord bookmap discord, it's free and available. Whether you have a bookmap subscription or not, I'm streaming at 1080p in discord. So just go to the bookmap channel. You can join us in discord. There are a number of channels in bookmap discord, including my channel. And second wins ask what does the volatility trigger do again? So volatility trigger is a level for an index product and an index product. Spot gamma assumes that traders are long puts and short calls. Market makers have the opposite side of that. So market makers are short puts and long calls. And the volatility trigger is spot gamma's gamma flip level. So below that level, that's where market makers position on the gamma curve is negative. So in that negative gamma environment, they are short puts, and they have to trade with price to hedge their delta exposure. On the other hand, above that level, market makers position on the gamma curve is positive. They're long calls and they have to trade against price to hedge their delta exposure. All right. So that is the volatility trigger. If you need more information, just go to the spot gamma website. Go to the free resources. They have an extensive support center there that should be able to answer all your questions about the the spot gamma levels. All right. Let's answer. Answer karma FX's question. So let's go to SPX. Let's go to the last expiration in December. And what was the level again? 4900. All right. So I'm gonna have to add a bunch of strikes here. All right. That's still not a law. Not enough. All right. So this is close enough 4890 delta is 0.21. So what the options market is saying is there's around a 20% chance that, you know, this is just a quick and dirty way of looking at it. So a 20% chance of SPX reaching 4900 by the end of the year. All right. So again, that's just a quick and dirty way of looking at that. All right. So let's go to NASDAQ. So this is the NQ futures. Let's take a look at a QQQ chart. Take a look at the levels. All right. So here's QQQ for today. Note the 372 level and this combo L3 level just above 372 did active support today. Let's take a let me zoom this chart so we can see all the levels. All right. The call wall is still up at 385. So that's just too far to zoom. All right. So first of all, let me point out levels. Here's the put wall at 370. That level did move lower from 375 yesterday to 370 today. And then the absolute gamma strike at 375 and that level also moved lower. And then finally the 377 volatility trigger. So the volatility trigger at 377, 375 is the absolute gamma strike and then the put wall at 370 and all those levels did move lower from yesterday. All right. So those are the primary levels key daily levels for the NASDAQ for QQQ. All right. Let's take a look now at NQ futures. I have my cloud notes again. I have the QQQ levels. You really can't see the 375 level. It's it's kind of jumbled up in this excuse me jumbled up in this area of NDX levels at the 15,400 volatility trigger. There's the 372 level also that combo three level that did act as support this morning. And then right around the 15,450 and the QQQ 374 level acted as resistance and note again the 10 a.m. reversal lower and the 10 30 a.m. reversal higher. All right. So those levels and play for for NASDAQ. I talked about shifts in levels. So again for SBX spy and QQQ levels did shift lower for the SB 500 volatility trigger call walls and absolute gamma strikes and for QQQ the volatility trigger put wall and absolute gamma strikes shifted lower. So overall somewhat bearish just looking at the shifts in levels. There's some other considerations. You know considering again for the SB 500 trading below the put wall being considering that oversold. All right. The next thing to look at to give us an idea of how the day may play out is to look at gamma notional and this is this is kind of unusual for this year to see this negative gamma and I think we're seeing the consequence of this today negative gamma position. So this is the gamma notional market makers position on the gamma curve at the beginning of the day for SBX spy NDX and QQQ and note for SBX spy and QQQ the numbers are all negative. I really don't pay much attention to the gamma notional for NDX. So these numbers all shifted lower from yesterday. SBX shifted from positive to negative and spy shifted from negative yesterday slightly negative to pretty significantly negative today minus 1.36 billion. So that's quite negative for spy especially this year and then QQQ also negative. So again this means that market makers are going to be trading with price that works both ways. As price goes down they have to sell futures and as price moves up they can buy back their short futures. All right. Let's take a look at the Vana models now. Let's go back to SBX. All right. So trading sale says do you compare notional gamma of the day to the days or days before? Is there a history of notional gamma and spot gamma or do I do it manually? So first of all I do it manually. I just actually write down in a notebook every day so I can flip back through the pages quickly. It's just faster to write it all down. So I put this information in a notebook every day for SBX, spy, NDX and QQQ, volatility trigger, put wall, call wall, absolute gamma strike, the spot gamma, gamma index and gamma notional and also the support and resistance levels noted in the spot gamma AM founders note. So I just have that on a page of my notebook every day and then I mark the numbers with an up arrow or a down arrow if it increased or decreased. So I wish there was something like that in spot gamma but there's not. So I can just flip back to the page yesterday and see what happened yesterday so that's how I'm comparing the numbers. So that's part of my market preparation is looking at those numbers and then marking my trading journal, my notebook every day. So it takes a little bit of time but it gives me a good idea of how market makers may react, how they're positioned, how they may react. So this is the Vantemodel and I'm looking at the Vantemodel to display to my audience here, give you a visual representation of what I'm talking about. I can look at gamma notional in my notebook and understand what this means but this is a visual representation of how market makers may react and note this is a curve typical of a negative gamma environment. So what this means is as price decreases, market makers will need to sell futures to hedge their delta exposure. This delta exposure is shown on the vertical axis there and then price on the horizontal axis. There are two curves on this chart. The first, this is for price only, showing how market makers delta notional changes with changes in price and then the purple line adds implied volatility to the equation. So that's showing how market makers delta notional will change with changes in price and changes in implied volatility and trade and sale says Vanna seems to be steepening exactly. Again, this is typical of a negative gamma environment that this left side will steepen. So again, this is what I've shown what Vanna, the Vanna model has looked like for the last several months, is more of a kind of a U shape and that's more typical of a positive gamma environment, positive gamma on the right side. Market makers are long calls and they have to sell futures as price rises to hedge their delta exposure. They always want to remain delta neutral. So let's see where SBX is trading now. I've got SBX at about 4508. Alright, so here's 4508. Remember, SBX was trading down below. Let's go back to the SB500. Actually, let's just go to the, we'll go to the SPX chart. So SPX, the low for the day was 4485. Go back to the Vanna model. So here's 4485 on this steep part of the curve. So what this is showing is if price decreases, market makers continues to decrease, market makers will need to sell futures to hedge their delta exposure. On the other hand, if price increases, market makers can buy back their short futures and that is a put Vanna rally. So welcome to a bit Vanna rally. This has not happened much this year. It occurred frequently last year, especially around big events like CPI reports, implied volatility would drop when the CPI report came in not as bad as expected or as expected, implied volatility would drop and price would rally quite sharply and that is a put Vanna rally and that is what is helping to fuel the move higher today. Market makers can buy back their short futures in this negative gamma environment. And let's take a look. Let's go back to that SPX chart and note the time of this reversal, again the 1030 reversal at 1030. And then let's take a look at a chart of VIX just as a proxy for implied volatility and note that VIX put in the high of the day right around 1030 as well. So this was the low of the day right around 44.85 that happened at around 1030. Price reversed higher, implied volatility drops and market makers can buy back their short futures and that is that helped to fuel the rally higher. And trading sales says Vanna rally, first time I heard this expression. Yeah, that's because it has not occurred much this year. In the more bearish market last year it occurred frequently. All right, so yoga mat says regarding put Vanna rally versus more normal rally, how would a trader interpret that regarding trade setups for the day? Well, that thing that this tells me is that I can expect more of a trend day. So if price starts to move higher implied volatility drops, I'm looking for again more of a trend day, not a range day, I'm looking for price to continue to go higher up to a point where this Vanna curve steepens. So I'm watching, you know, I'm watching order flowing book map. I have this Vanna model in mind, knowing how market makers will need to react with an increase in price and implied volatility or opposite if price continues lower implied volatility continues to move higher. I know they will be selling futures. So that just gives me an idea of the expected trading range and volatility for the day. So definitely in a negative gamma environment, I'm looking for a higher volatility and a wider trading range, more movement. Let's just let's just compare. So today we know that for SPX, gamma notional was negative. And yesterday, this is yesterday, gamma notional was positive. And the day before August 1st, gamma notional was even more positive. Alright, so trade and sale, there you go. You see that as gamma notional becomes more negative, this left side of that curve becomes steeper. And again, it works both ways. Let's just take a quick look at spy. Again, steep to the left and as QQQ as well. Curves typical of a negative gamma environment, leading to again, higher volatility, wider training range as market makers trade with price. Alright, let's so my thesis for the day. First of all, again, obviously, I was looking for higher volatility, wider trading range, more of a trend day today. And just based on the shifts lower in levels, the first pass, my thought would be bearish thesis, but would, you know, it was important again to watch the VATTA model. That's why I've spent so much time on it. Watch VIX and recognize that as price was below the put walls, that is an oversold situation. So looking for this potential for a rally in the, especially in the SB 500. Alright, let's take a look at some setups now. I'm going to start with the SB 500. This is the hero chart. And this is showing price for SPX and options trades and market maker hedging activity for a combined signal for SPX by XSP and ES futures. So this is what I want to look at if I'm trading the SB 500, this combined signal, they all have an influence on the market on the movement of ES futures. Alright, let's take a closer look at this. I'm going to zoom in. I'm going to take a look at the morning. So remember, I talked about the 10am reversal lower and the 1030 reversal higher. And these reversals were confirmed with the by the options market and market maker hedging activity. So initially, from the open, you know, that first move was was higher as options traders took positive delta positions right from the open. Then around 10am price reverse lower as they started taking negative delta positions. And again, at 1030 reversed higher as they started taking positive delta positions. Let's just see what let's take a look at zero DTE. And again, just like yesterday, zero DTE options traders shown options trades shown with this green line make up a large part of the notional value for options trades today. So that is zero DTE options trades for SPX by ES futures and X XP, driving the market lower and higher. Or let's go take a look at book map. And of course, the you know, the real move for today was the reversal higher at 1030. So let's zoom in. We'll take a look at that. Alright, so we know at 1030 options traders were taking started taking positive delta positions as well as the zero DTE traders. So that is one thing we know that again, we're looking at hero. The next thing in book map, I can see large traders coming in with iceberg orders they used to hide their size. That's 2,190 contracts. That's one that's actually two executions, but a big block higher, right at the lower daily expected move, the dashed blue line. And note, there's a stop run down to that level. That's shown by the falling yellow line. Also these green dots here. So a stop run down to that level just above the liquidity at 4504 4505 that is resting by orders. Large traders coming in with iceberg orders and options traders taking positive delta positions. Market makers have to have to buy futures to hedge their delta exposure. Also, we know at that time, VIX was dropping price rising, market makers can buy back their shorts helping to fuel the move higher. So Sebastian asked, what are you using to access all that information? That the charts that I was looking at before those come from spot gamma. So that spot gamma is a subscription subscription service. They do offer a free seven day trial. They also offer a variety of subscription levels. So go to spot gamma.com for more information. Alright, so trade and sale. Could you explain the sub chart with a blue and yellow line? And the changing of the purple blue line? Okay. Alright, so let me go into that. Let's clear these arrows. So in the sub chart, I have three lines here. First of all, the line that changes from pink to dark blue is cumulative volume delta. I don't know if that's pink or purple, kind of a dark pink or purple changes from pink to dark blue as this cumulative volume delta goes from negative to positive. That is included with all versions of bookmap that comes with bookmap, either global or global plus. Okay, magenta. Yeah, pink, purple magenta. And the next lines, the yellow and blue lines, those are part of the MBO bundle. And the MBO bundle is an add on that shows the stops and icebergs. And there's the sub chart indicator that you're asking about. And this is my choice of color for yellow. And I have all of these in I have stops and icebergs in some mode. This is what I like to see. This is the way I like to see it. So I can see the cumulative stop orders as well as the cumulative iceberg orders. So I have all these in some mode. So cumulative volume delta obviously is in some mode as well. So blue line icebergs, yellow line stops part of the MBO bundle. That's an extra add on that you can purchase in the bookmap marketplace. It works with global and global plus. It only works for CME futures. CME provides this MBO market by order data for see their futures. Yes, in queue. And rhythmic is the only data provider that provides that data. So to see the stops and icebergs, you need first of all the add on that you can again purchase in the bookmap marketplace. You also need CME futures and rhythmic data. Alright, so I hope that answers your question. And then the MBO bundle, the stops and icebergs, there are actually two parts to it. There's the sub chart that I just talked about. And the on chart indicators that show the individual events. So there are the stops that I talked about. So I can see the sloping yellow line. And then I can see the individual events there. So here with the blue line, I see that large event. Normally, it's, you know, more of a gradual move higher like the other lines, but I can see the individual events with the on chart indicator. So there's really have not there have not been much of a stream of iceberg orders, more big events that I can see with the vertical lines here. Alright, so that is the reversal higher for the SB 500. And it looks like this 4520 volatility trigger may be acting as support resistance. I'm sorry. All right, let's take a look at NASDAQ. Alright, so trade and sale risk, rhythmic is not the only one to provide MBO. Okay, well, that's great to know. I thought it rhythmic was but rhythmic as far as I know is the only data provider that's compatible with book map that shows this data. So if you want to, you know, again, as far as I know, you may want to check with book map support to confirm that. But if you want to use the MBO bundle, as far as I know, you need to use rhythmic data for book map. Alright, so let's take a look at NASDAQ now. Let's go to hero for NASDAQ. So just like the SB 500, this is a combined signal for NDX and QQQ zoom in focus on this morning. So just like SB 500 somewhat of a divergent setup short at 10am, then reversal higher at 1030. And there was not as much strength in the hero signal as there was in the SB 500, but still have helped to set up along. Let's go do book map and note the iceberg orders were in here. Actually a little bit earlier, early price continued lower until reversing at the QQQ 372 level and the 15282 NDX C3 level. Just above that, the shift in order flow here, a lot of aggressive buyers coming in. And here you can see that cumulative volume delta was also moving higher than a good entry point was right here at the QQQ 373 level, just around the NQ 400 level. So now NASDAQ trading up to the QQQ 376 level. Remember 375 is the absolute gamma strike. 377 is the volatility trigger. Alright, so second wins asked what is hero showing now for QQQ end of day? I'm not sure what. Alright, for the current trading period, we'll take a look at that and trading sale ask, how important is information and book map about icebergs for your trading? It is important. It is another confluence. I know there one trader, Scott Polsini, that's the and he's a pro trader. He is on the book map stream at 10 AM on Thursdays. Alright, so so Scott will did stream this morning. You can watch his stream in in the archives in the book map YouTube channel. And again, that's kind of the basis for his trades. For me, it's a confluence. It's an important confluence, not everything that I look at. And again, stops and icebergs only available for futures, not for stocks. Alright, and then second wins wants to look at hero for QQQ. So we'll take a look at at NASDAQ, the combined signal first. So this is the full trading day. I assume this is what you're talking about. So this is the cumulative cumulative hero for the day it is negative. So net traders are taking negative delta positions in NDX and QQQ. And now we can just take a look at QQQ separately. And that's also negative. So to me this signal for SPX today is is much more clear. Alright, and you're welcome second wins. Alright, I've only got a few minutes left. There were a lot of questions which I love I wanted. Thank you very much. I love this interactive way of presenting. So thank you very much for your questions. Let's take a quick look at some stocks. So first of all, AMD and today, call buyers were active in the morning, helping to drive price higher they still are. So when traders buy calls, market makers sell calls and they have to buy stock to hedge their delta exposure. And if you're looking for a long entry for stock, this is exactly what you want to look at. So let's go take a look at book map for AMD. So nice strong rally in AMD today as traders are buying calls, market makers selling the calls, they have to buy stock to hedge their delta exposure. Notice also all the green volume dots here. A lot of aggressive buyers helping to drive AMD higher. Alright, let's go back to hero and note that 110 is the hedge wall and the key gamma strike and also I know what I ranked my watch list here by the hero signal from strongest to weakest. I talked about this yesterday. This hero signal is showing it compares the hero signal for the last five days and last 30 days. So the entire length of the signal is for the last 30 days and then the color portion is the last five days. So the hero signal for today for AMD is just about as strong as it has been in the last five days and maybe about the 70th percentile for the last 30 days. So overall pretty strong signal for AMD. Let's take a look at meta kind of in the middle of the range but call buyers were active earlier today. They still are both put sellers. Both these numbers are positive. So traders are buying calls and selling puts kind of a choppy day in meta. We'll take a quick look and bookbump. All right trading sales. Trading sale says thank you for your excellent information. You're welcome and yes I suggest watching if you're trading futures definitely watch scotch videos. You can watch Bruce's videos as well. He's an expert on order flow. All right so trading sale also says he created excel sheet. So that's you know that's one way of going you know I just like to have a record of it. Again thank you for your kind words. I think planning is very important certainly in flying as you know you know and certainly in trading as well to plan ahead and to understand what might happen and plan for that. All right so here's meta. Overall traders taking positive delta positions and deeper pullbacks here in meta but a good long good long setups. All right let's before I run out of time I want to look at the stocks that report earnings today first of all Apple. So so far today traders are taking positive delta positions so they are buying calls and selling puts and one caution here for anyone buying calls right before earnings there's one thing we know for sure is that implied volatility will drop after the earnings report and if you're long an option that will have a bad impact on your on your option the options will lose value as implied volatility drops. So again one caution for traders buying calls ahead of earnings you may not make as much as you anticipate and especially with with Apple that does not move that much. We can take a quick look at actually let me go back this is the earnings chart and I believe this is free there's a free version of this for everyone so let's take a look at here's apple so right now the expected move according to spot gamma is about three percent so again there's potential that the call buyers may not make as much as they they expect today and maybe the put sellers may be better off. All right so that's apple let's go take a look at book map and pretty choppy range today narrow range between 192 and 191 and 192. All right the next is amazon and amazon is rallying today let's take a look and see what options traders are doing and we'll go to amazon and they're buying calls and they're actually buying puts as well and note that 130 is the key gamma strike let's go back to book map 130 is the key gamma strike don't the high liquidity at that level if that's the obvious price target if price continues higher all right let's we've got a couple minutes left let's go back take a look at hero so this is nvidia pretty volatile stock that moves around quite a bit and note that both nvidia and tesla are on the low end of this range of the hero signal today so you know i focused on amd first at the kind of the higher end of the range sb 500 at that higher end of the range as well also netflix that's the sb 500 netflix strong today as well hero signal on the upper end of the range nvidia let's take a look at the total signal not so much zoom in on this so there was a long setup first thing in the morning as traders were taking positive delta positions up to the 450 key gamma strike price reverse lower nice short setup and then options traders have started taking positive delta position so there's the 10 am reversal lower 10 30 reversal higher and somewhat chop after that all right let's go back to take a look at book map so there's the strong move up at the open up to the 450 level short setup and then price moved back up to the 450 level all right let's take a look at tesla and second wins uh you're very welcome uh glad you're here have a great afternoon right tesla stronger today and in the case of tesla this hero signal was also in the lower end of the range but aggressive buyers are coming into tesla moving it higher so i thought for tesla that the first setup here was this short let's go back to tesla and book map so short here but notice all the green dots here a lot of aggressive buyers and as even as price was moving lower you can see all the the green dots coming in aggressive buyers rising kimaly to volume delta all right my time is up let's just take one quick look at the sb 500 all right so now it looks like this 45 20 level did act as resistance you can see all the zoom in on this all the sellers coming in at that level let me darken up the heat map what i'm talking about is the the heat map all these sellers coming in at that level right around 45 40 and now price is trading below the spy 450 absolute gamma strike put wall volatility trigger take a quick look and see what options traders are doing and then we'll call out today come back to the sb 500 so options traders are still taking positive delta positions all right my time is up i want to thank you very much for watching thanks for your questions and comments and i will see you tomorrow and remember apple and amazon report after the closed today and then the employment report is at 8 30 eastern time so we'll talk about all of that tomorrow thanks again thanks for watching thank you very much and youtube for all your questions and comments and i will see you tomorrow bye